$8000 TOWARD CLOSING COSTS, with an acceptable offer. Tucked away in a quiet cul-de-sac on Pheasant Trail, this beautifully maintained home in the highly desirable and master-planned Fox Valley subdivision is ready for its next chapter--and could be yours with an assumable loan at just 5.125% (for qualified buyers)!Just 5 miles from the 7th Special Forces entrance, this home offers convenience, comfort, and space in one of the area's most popular layouts--The Cynthia floor plan. You'll love the balance of open-concept living with private, defined spaces. Featuring 4 bedrooms and 2 bathrooms, this flexible floor plan also includes a dedicated office or optional 5th bedroom.From the moment you walk in, the wide foyer welcomes you in style. To one side, a formal dining room-- perfect for gatherings. To the other, a flex room ideal as a home office, gym, or guest room. The spacious living room with soaring ceilings centers around a cozy fireplace, perfect for displaying art or your flat-screen TV. It's the perfect setting for that oversized sectional you've always wanted. The gourmet kitchen is a chef's dream, with granite countertops, maple cabinetry with crown molding, and a generous breakfast bar that opens to a sunny casual dining area. Whether cooking or entertaining, you'll appreciate the functionality and style. The primary suite is a true retreathuge in size with a smartly designed sitting area or home office nook that opens to the back deck. The spa-like ensuite bathroom features a long double vanity with granite counters, a soaking garden tub under a frosted window, a glass-enclosed shower, and a massive walk-in closet. On the opposite side of the home are two additional generously sized bedrooms, a full guest bath, and a laundry room. Upstairs, a bonus 4th bedroom offers the perfect space for a playroom, media room, or private home office. Step outside and enjoy your own private oasis. A screened porch leads to a large wooden deckperfect for BBQs, outdoor gatherings, or simply unwinding at the end of the day. The spacious backyard is fully equipped with a sprinkler system and lush landscaping. This one checks all the boxesspace, layout, location, and features. Schedule your showing today and see why this Fox Valley gem should be on your must-see list!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
